Presentation by the Florida Department of Education, Office of Student Financial Assistance (OSFA) Theresa Antworth Director, State Scholarship & Grant Programs March 11, 2011 Third largest student financial aid program funded by Florida Legislature Considered Tuition Assistance not Financial Aid No need or merit component 30 Participating Institutions Keiser University to join the program in 2011-12 2 Program Name Program Type Appropriation Percent of Total Student Count * Bright Futures Merit $437,282,546 65% 179,659 Florida Student Assistance Grant Need $129,977,707 19% 124,275 Florida Resident Access Grant Tuition Assistance $83,856,500 12% 34,493 Other (includes federal Robert C. Byrd) Other $25,343,502 4% 23,573 Total (state and Byrd funds) $676,460,255 100% 362,000 * Program student counts are from March 2011 Student Financial Aid Estimating Conference 3 Annual GAA sets the maximum award amount and appropriates funds for a consensus count of full time students Each eligible student receives maximum award Award is capped at each student’s tuition and fees Average Tuition and Fees = $21,800 Current Annual Maximum Award = $2,425 If more students enroll than were appropriated; then a prorated amount is awarded If fewer students enroll, then late reported enrollees are awarded About one-third of FRAG students also receive either Bright Futures (26%), or FSAG (22%), or both (9%) 4 1979 as a State Tuition Voucher Program (s. 240.401 F.S.) to: Support institutional diversity Counter declining percentage of students enrolled at private institutions Reduce the difference between public and private tuition; i.e., tuition equalization grants Reduce the tax burden on Florida citizens Maximum annual award of $1,000; later changed to a range of $1,150 - $2,000 5 1982 - Required students be degree seeking and enrolled in Associate or Baccalaureate programs 1983 - Amended residency requirements 1983 - Recommended increased voucher amount if ratio between tuition and General Revenue at public institutions decreased for 3 years 1989 - Required institutions be accredited by SACS 1989 - Intent of tuition assistance vs financial aid 1989 - Advanced payments to institutions requiring subsequent reporting of expenditures 6 1991 - Aligned maximum award to 40% of the full cost to the state for FTE’s at public institutions 1994 - Removed minimum award amount 1994 - Renamed from State Tuition Voucher to William L. Boyd, IV, Florida Resident Access Grant 2005 - Amended award amount to be set in GAA annually 7 25 Eligible Institutions Non-profit Located in and chartered by the state Accredited by an agency holding membership in the Council on Postsecondary Accreditation (dissolved in 1993) Granted baccalaureate degrees Credits acceptable without qualification for transfer to state universities Not a state university Not a pervasively sectarian institution Student Eligibility Graduate of a Florida high school Resided continuously in Florida for 2 years Registered as a freshman after 7/31/79; freshman or sophomore after 7/31/80; etc. Full-time, undergraduate Not enrolled in a program of study leading to a degree in theology or divinity Making satisfactory academic progress Annual Award Amount – no more than $1,000 8 31 Eligible Institutions Student Eligibility Independent Non-profit Located in and chartered by the state Accredited by the regional Southern Association of Colleges and Schools (SACS) Grant baccalaureate degrees Have a secular purpose Undergraduate Resident Full-time Degree Seeking Not enrolled in a program of study leading to a degree in theology or divinity 2.0 GPA to renew each year Annual Award $2,425 9 Name Ave Maria University** (2010-11) Barry University 2010-11 Consensus Student Count 152 2,539 Name 2010-11 Consensus Student Count Hodges University 1,709 Jacksonville University 1,285 Beacon College** (2003-04) 35 Bethune-Cookman University 1,870 Nova Southeastern University 3,174 Clearwater Christian College* 229 Palm Beach Atlantic University 1,248 Eckerd College 706 Ringling College of Art & Design Edward Waters College 475 Rollins College 1,189 Embry-Riddle Aeronautical University 797 Saint Leo University 2,853 Everglades University** (2010-11) 336 Southeastern University 1,123 Florida College * 133 St. Thomas University Florida Hospital College of Health Sciences Florida Institute of Technology Lynn University 308 496 716 485 1,030 Stetson University University of Miami 1,374 3,629 949 University of Tampa 1,490 Florida Southern College 1,179 Warner University * 695 Flagler College 1,892 Webber International University 397 Florida Memorial University *Institution Grandfathered in 1989 **Institution later joined after program inception date 10 Academic Year Appropriation Maximum Award Amount Maximum FTE Student Count 1979-80 $2,400,000 $750 3,200 1980-81 $4,100,000 $750 5,467 1981-82 $729,000 $750 972 1982-83 $9,500,000 $717 13,250 1983-84 $10,100,000 $750 13,467 1984-85 $11,900,000 $778 15,296 1985-86 $13,323,984 $852 15,638 1986-87 $15,989,392 $1,000 15,989 1987-88 $15,975,700 $1,100 14,523 1988-89 $16,672,650 $1,122 14,860 1989-90 $16,672,650 $1,110 15,020 1990-91 $18,839,300 $1,100 17,127 1991-92 $18,215,531 $990 18,400 1992-93 $16,564,373 $924 17,927 1993-94 $18,539,373 $1,090 17,009 1994-95 $19,872,443 $1,090 18,232 11 Academic Year Appropriation Maximum Award Amount Maximum FTE Student Count 1995-96 $19,852,200 $1,200 16,544 1996-97 $28,852,200 $1,800 (1) 16,029 1997-98 $28,852,200 $1,800 (1) 16,029 1998-99 $40,852,200 $1,800 22,696 1999-00 $48,232,944 $2,074 23,256 2000-01 $70,830,388 $2,813 (1) 25,180 2001-02 $70,830,388 $2,686 26,370 2002-03 $79,841,350 $2,686 29,725 2003-04 $79,841,350 $2,251 35,469 2004-05 $79,841,350 $2,369 33,703 2005-06 $93,990,150 $2,850 32,979 2006-07 $102,603,148 $3,000 34,201 2007-08 (2) $99,193,000 $3,000 33,064 2008-09 (2) $92,542,395 $2,837 32,620 2009-10 $84,171,709 $2,529 (1) 33,521 2010-11 $83,856,500 $2,425 34,580 Take off the 89-1011 in the first chart (1) Maximum award prorated to accommodate all eligible students (2) Appropriation reflects budget reduction 12 Millions End of Year Disbursements Projections FTE Student Count Student Count 45,000 $105 99.4 M 40,991 $100 $90 35,000 97.2 M 94.4 M $95 31,278 31,482 32,393 33,266 32,501 34,493 30,000 92.2 M 25,000 89.1 M 20,000 84.1 M $85 15,000 83.6 M 10,000 $80 5,000 $75 2005-06 Max Award Amount ($2,580) Average Award ($2,462) 40,000 2006-07 ($3,000) ($2,602) 2007-08 ($3,000) ($2,600) 2008-09 ($2,837) ($2,468) 2009-10 ($2,529) ($2,175) 2010-11 ($2,425) 2011-12 ($2,425) 13 2011-12 March 2011 Estimating Conference Consensus ABLE FTE Student Count Aggregate Total Less Keiser University New Total FRAG Award ($ 945) 3,872 $3,659,040 899 $849,555 2,973 $2,809,485 Aggregate Total Plus Keiser University * New Total Projected Net Cost Increase Projected Award Amount Decrease * Estimated student counts from Keiser converted to FTE counts FTE Student Count Award ($2,425) 35,529 $86,157,825 5,462 $13,245,350 40,991 x 40,991 x $2,425 $99,403,175 $2,102 $12,395,795 $86,157,825 14 Levis Hughes, Chief of Student Financial Assistance, Loan Programs, Scholarship and Grant Programs Levis.Hughes@fldoe.org (850) 410-6810 Theresa Antworth, Director, State Scholarship and Grant Programs Theresa.Antworth@fldoe.org (850) 410-5185 Annual Report to the Commissioner can be found at http://www.FloridaStudentFinancialAid.org/SSFAD/pdf/annualreport07-08.pdf Florida Department of Education Office of Student Financial Assistance 325 West Gaines Street, Suite 1314 Tallahassee, FL 32399-0400 1-888-827-2004 15